Reopening of assessment unsustainable in absence of any failure on part of assessee

Mumbai Postal Employees Co-operative Credit Society Ltd Vs ITO (Bombay High Court) Bombay High Court held that failure on the part of assessee is a prerequisite for invoking jurisdiction for reopening of assessment. In absence of same, reopening of assessment is unsustainable and liable to be set aside. Facts- A return of income was filed by the Petitioner for A.Y. 2014-15 declaring Nil income after claiming deduction u/s. 80P of the Act of Rs.13,31,80,877/-. Subsequently, the Petitioner’s case was selected for scrutiny and a notice u/s. 143(2) was issued. One of the issues flagged during sc...